New Delhi, February 8: Silver prices dropped by 0.55 percent to Rs 37,656 per kg in futures trading today amid profit-booking by speculators and weak global markets.

At the Multi Commodity Exchange, silver for delivery in March fell by Rs 207, or 0.55 percent, to Rs 37,656 per kg in a business turnover of 776 lots. Similarly, the white metal for delivery in May moved down by Rs 180, or 0.47 percent, to Rs 38,228 per kg in 49 lots.

Traders said offloading of positions by participants to book profits amid a weak trend overseas led to the fall in the silver prices at futures trade. Globally, silver fell 0.61 percent to USD 16.24 an ounce in Singapore.